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Tech Data to buy Avnet Technology Solutions for USD 2.6 bln
2016-09-19 14:41:00| Telecompaper Headlines
(Telecompaper) Avnet has agreed to sell its Technology Solutions division to rival Tech Data for USD 2.6 billion. The company said it will focus going forward on design and supply chain services, and especially high growth areas like the IoT, embedded solutions and critical platforms. It will partner with Tech Data on serving the IoT solutions market. Avnet will receive USD 2.4 billion in cash and 2.8 million shares in Tech Data as payment for the operations.
Tags: data
buy
technology
solutions
Telia balks at USD 1.4 bln settlement in Uzbekistan probe
2016-09-15 08:43:00| Telecompaper Headlines
(Telecompaper) Telia has received proposed settlement from US and Dutch authorities over investigations into its activities in Uzbekistan that would cost the company around USD 1.4 billion (SEK 12 billion). The company has been under investigation since the spring of 2014 over suspected bribery in obtaining its licence in Uzbekistan. Telia said it received new information from the authorities with proposals on a settlement. The information did not go into much detail, but suggests a total settlement amount of approximately USD 1.4 billion for all investigations. Telia chairman Marie Ehrling said in a statement that the company was prepared to take full responsibility for the "unethical and wrongful way" in which it entered the Uzbekistan market. However, "our initial reaction to the proposal is that the amount is very high", she said. The company will consider the information from the Dutch and US prosecutors before decide how to proceed in negotiations.
Tags: usd
settlement
probe
uzbekistan
Genesys to acquire Interactive Intelligence for USD 1.4 bln
2016-08-31 14:44:00| Telecompaper Headlines
(Telecompaper) Genesys has agreed to acquire the rival call centre platform developer Interactive Intelligence Group for USD 1.4 billion. Interactive Intelligence shareholders will receive USD 60.50 per share in cash, representing a premium of 36 percent on the share price on 28 July, the day prior to media reports that Interactive Intelligence was considering strategic alternatives. Genesys the two offer complementary product portfolios, and the combined group will be able to deliver customer service over any channel, in the cloud and on-premise, to businesses of any scale. Both cloud and on-premise product portfolios will continue to be supported and offered to the marketplace, with significant R&D investment across the full product portfolio, Genesys said.
Tags: usd
interactive
intelligence
acquire
Rackspace to go private in USD 4.3 bln takeover by Apollo
2016-08-29 08:51:00| Telecompaper Headlines
(Telecompaper) Rackspace has agreed to go private in a takeover by Apollo Global Management valuing the company at USD 4.3 billion. Searchlight Capital Partners will also make an equity investment in the company as part of the deal. The bid is worth USD 32 per Racksapce share, a premium of 38 percent on the company's share price on 03 August, the day before news of a possible takeover was reported. Rackspace said its board had been considering strategic options for several months and fully recommended the takeover to shareholders. Subject to shareholder and regulatory approval, the acquisition is expected to close in the fourth quarter.
Tags: private
usd
apollo
takeover
Singtel buys Temasek shares in AIS, Airtel for SGD 2.5 bln
2016-08-18 09:20:00| Telecompaper Headlines
(Telecompaper) Singtel has agreed to raise its stakes in Thailand operator AIS and India's Bharti Airtel. The company will buy Singapore investment company Temasek's 21 percent pf Intouch Holdings, the largest shareholder in AIS, and 7.39 percent of Bharti Telecom, the holding company for Airtel, for a total consideration of SGD 2.47 billion cash. Singtel said it will fund the deal with internal cash, short-term debt and proceeds from the sale of 386 million new Singtel shares to Temasek. The transaction is subject to regulatory and minority shareholder approvals and is expected to be completed by December.
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